Norway

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SINGAPORE (June 17): “We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein.”Noel White, CEO of Tyson, a leading producer of meat.

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VARD announces $840 mil contract win after delay in delisting EGM

SINGAPORE (June 25): VARD Holdings has secured a contract worth over NOK 5 billion ($840 million) to construct three coast guard vessels for Norway’s Norwegian Defence Materiel Agency (NDMA), an agency directly under the Royal Norwegian Ministry of Defence.

In a Monday filing, VARD says the new vessels will replace Norway’s Nordkapp-class coast guard vessels, and will be tailor-made for worldwide operations in all weather and sea conditions, both inshore and offshore.

VARD bags $66 mil contract to build trawler for Norwegian fishery

SINGAPORE (May 24): VARD Holdings has secured a new contract valued at NOK 400 million ($66.4 million) for the design and construction of one stern trawler for Nergård Havfiske AS, which is part of Norwegian fishery Nergård group.

Delivery of the vessel is scheduled from VARD Brattvaag in Norway in 1Q 2020 and the hull will be built at VARD Braila in Romania.

In a Thursday filing, VARD says the 80m-long stern trawler with a beam of 17m is of VARD 8 02 design, and will be developed by VARD Design in Ålesund, Norway, based on VARD’s enhanced trawler designs.

Vard signs LOI to build two environmentally-friendly Viking cruise vessels for $750 mil

SINGAPORE (Apr 4): Vard Holdings has signed a letter of intent (LoI) to design and construct two environmentally-friendly cruise vessels for Viking, a Swiss cruise line which currently operates a fleet of more than 60 vessels, for a potential contract value of NOK 4.5 billion ($750 million).

Both parties mutually intend to enter into a final contract by mid-2018.

The two vessels are to be developed by Vard Design in Norway while the hulls will be built by Vard in Romania.

Their deliveries are scheduled for the second quarters of 2021 and 2022, respectively.

Vard awarded contracts worth $114 mil to build new-concept stern trawlers

SINGAPORE (Dec 4): Vard Holdings has won contracts worth NOK 700 million ($113.9 million) for the design and construction of seven stern trawlers for four Icelandic shipowners, namely: Bergur-Huginn, Utgerdarfelag Akureyringa, Gjögur and Skinney-Thinganes.

In a filing on Sunday, Vard says it has partnered the four shipowners to develop a new design, dubbed Vard 8 08, for the seven stern trawlers to provide a “strong focus on safe operations, efficiency in cargo handling, as well as crew’s wellbeing”.

GIC, Temasek unit said to be among anchor buyers of SBI Life's IPO in India

SINGAPORE (Sept 20): SBI Life Insurance, a joint venture between State Bank of India and BNP Paribas Cardiff, is said to have received strong initial responses to the launch of its initial public offering (IPO) today.

Singapore’s sovereign wealth fund GIC bought about 1.6 million shares, out of the 31.8 million shares sold by SBI Life Insurance at INR 700 ($14.60) each to a total of 69 anchor investors, according to Dow Jones Newswires. 

Aranda Investments, a subsidiary of Temasek Holdings, bought 1.4 million shares.

Surfing trendsetters can make an economic splash

SYDNEY (MARCH 21): The discovery of a new surf spot allows a lucky board rider to commune with nature unfettered. Yet the inevitable influx of surfing hordes can also spur a burst of economic growth, according to new research.

EMAS Offshore to request for suspension of shares on SGX

SINGAPORE (March 6): EMAS Offshore, the subsidiary embattled offshore and marine group Ezra Holdings which is also listed in Norway, announced on Saturday it will be requesting for a voluntary suspension of its shares on the Singapore Exchange.

The move follows the announcement that Financial Supervisory Authority of Norway has ordered Oslo Bors to suspend the shares of EMAS Offshore from trading because the company has not released an audited annual report for 2016 within the Dec 31 deadline.

Vard secures construction contracts worth $101 mil in Norway

LNG powered car and passenger ferries. Photo provided by Vard Holdings.

SINGAPORE (Jan 10): Vard Holdings announced Tuesday that it has secured contracts worth 600 million Norwegian Krone ($101 million) for the construction of two LNG powered car and passenger ferries for Torghatten Nord in Norway.

Designed for environmentally friendly operations in the Norwegian fjords, the ferries will be able to accommodate up to 180 cars and 550 passengers and crew.

The vessels, which will have a speed of approximately 18 knots, will measure 130 metres in length with a beam of 20.7 metres.

Singapore overtaken by Hong Kong in IMD World Talent Ranking

SINGAPORE (Nov 29): Singapore has fallen out of its position among the top 10 in the IMD World Talent Ranking 2016. The city state fell five places to 15th place while Hong Kong rose two places to take Singapore’s previous rank at 10th position.

This is the second year in a row that Asia has had just one representative in the top 10, according to a release by IMD on Tuesday.

The top 10 countries included Switzerland, Denmark, Belgium, Sweden, the Netherlands, Finland, Norway, Austria, and Luxembourg. Germany was at 11th place.

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